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US Hikes Tariffs On Chinese Goods, China Says To Strike Back


US Hikes Tariffs On Chinese Goods, China Says To Strike Back

President Donald Trump’s latest tariff hikes on Chinese goods took effect Friday and Beijing said it would retaliate, escalating a battle over China’s technology ambitions and other trade strains.

The Trump administration raised import taxes on $200 billion of Chinese imports from 10% to 25%. China’s Commerce Ministry said would take “necessary countermeasures” but gave no details. He said it "deeply regrets" the US decision, adding that it would take necessary countermeasures, without elaborating. 

The hike comes in the midst of two days of talks between top US and Chinese negotiators to try to rescue a faltering deal aimed at ending a 10-month trade war between the world's two largest economies. 

Goods in the more than 5,700 affected product categories that left Chinese ports and airports before midnight will be subject to the original 10 per cent duty rate, a CBP spokeswoman said. 

Regulators have targeted operations of American companies in China by slowing customs clearance for their goods and stepping up regulatory scrutiny that can hamper operations.

The higher import taxes apply to Chinese goods shipped on or after Friday. That means goods that already are on the way to U.S. ports will be charged the lower earlier rate.

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